EB-5 Regional Center Program Extended Until September 30, 2018

The U.S. Congress recently extended the EB-5 Regional Center Program through September 30, 2018 as part of the Omnibus budget package. The extension was passed without changes to the current statutory or regulatory requirements. In summary, foreign nationals who invest equity capital in a new commercial enterprise, which in turn results in the creation of at least 10 jobs for U.S. workers, may obtain lawful permanent resident status in the United States through the EB-5 category.

While Congress has extended the EB-5 Regional Center Program for approximately six months, there are potential changes that U.S. Citizenship and Immigration Services (USCIS) could implement before the sunset date of September 30, 2018 by way of rulemaking. The pending proposed regulations could substantially change certain requirements for prospective EB-5 investors, including increasing the minimum amounts and recalibrating eligibility criteria for a new commercial enterprise to be principally doing business in a “targeted employment area.”

Having represented thousands of investors and dozens of regional center groups during the last 25+ years, SGG is considered an international expert in EB-5 immigration and will continue to provide updates on developments in this field. For more information, please contact us.